The downtrend has finally ended. We reached the bottom of the bottoms.
Now, the descending wedge is about to be broken and I predict a slow cup and handle pattern with a breakout in October (if BTC behaves as I predicted).
Too my surprise XRP actually broke out of it's descending broadening wedge and reached full measure moves; i certainly flipped bearish on this one too soon the first time. But now that we have reached full targets i would expect that any bearish signal we get up here will carry more weight so i will be getting bearish up here again to see if i can catch another big move.
I think XRP has had enough upside from here and will reverse between the 50% and 61.8% retraces.
A few days ago i was Bullish on XRP at the bottom of a descending broadening channel but we have since reached the top of this channel and are now showing signs of 4 hour hidden bearish divergence on the RSI.
If this continues and we see a reversal from here then i'll...
I know ASII is on downtrend …. But I found a bullish movement, thats it a decending broadening wedge and abcd harmonic pattern …. So because ASII is on downtrend the target price is better on 5300-5350… Hopefully this pattern would be work #disclaimeon
-We have 3 touches at the bottom and 2 touches at the top of the triangle.
-Descending patterns are usually bearish signs, but there is a chance to interpret this patttern as a descending wedge, which is bullish.
- Volume is decreasing, which leads to explosive moves in the future.
- For expected duration of the trade, probability, stop loss, profit target,...
May have found a bullish sign on the 4-hour chart.
Looks to be forming a descending broadening wedge. This should finish forming as the weekend comes and passes, Monday looking for a breakout to the upside, depending on a number of fundamental factors.
But based on the chart, if we can break above the trendline going into Sunday late evening and...
Plan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment...
Nice descending wedge forming on 1D chart of BA. The confirmation might be over the low smas (9,20) and obviously a break out over the wedge resistance line. I am bullish for the next week and see big potential for this sector. Nice support on the 100sma. Just an amazing play it would be 😋😍